We’ll be updating our FAQ section every few weeks with
real questions from HealthPlus members and employer groups.
Do I have a "Cadillac" plan? What happens if
“Cadillac” plans are defined by total premium cost, not
benefits or how much a patient pays for a provider visit. Currently, a
“Cadillac” health plan is defined as costing more than $10,200 for an
individual or $27,500 for a family, including worker and employer contributions
to flexible spending and health savings accounts. Stand-alone vision and dental
benefits are not included.
In 2018, insurers or plan sponsors, not employees, will
have to pay a 40 percent excise tax on the plan’s value ABOVE the currently
defined threshold. So an individual plan valued at $10,700 will have an excise
tax on $500, the amount over the $10,200 threshold.
Learn more at:'Cadillac' Insurance Plans Explained
What is the health insurance exchange?
Also known as the “marketplace,” the exchange is a
website designed to provide individuals with a convenient way to shop for
comprehensive and affordable health insurance.
What are employer requirements regarding employee
notification of health insurance exchange options?
Employers must provide each employee hired on or after
Oct. 1, 2013, notice about his or her health insurance exchange options. This
notice must be provided at the time of hiring. Employers must also provide the
notice to existing employees by Oct. 1, 2013. (This provision is only for
employers subject to the Fair Labor and Standards Act.)
Learn more at the Department of Labor:Employee Benefits Security Administration
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